Gramercy Capital Buys $24.65M Distribution Facility in Memphis MSA

Gramercy Capital Corp.

announced today that it closed on the acquisition of an approximately 600,000 square foot class A industrial building located in Olive Branch, Mississippi, in an all-cash transaction for a purchase price of approximately $24.65 million. The building is 100% leased to a single tenant through December 31, 2022 and includes an adjacent 13.8 acre land parcel with capacity for an additional 250,000 square foot building